New business park in the works for Victoria

Victoria may see a new business park to accommodate spin-off businesses resulting from the Caterpillar manufacturing plant coming to the city.

The city council will consider Tuesday transferring $500,000 to the sales tax board, which will combine it with at least $1 million of its own money to buy additional land for the park.

That manufacturing plant is being built on Lone Tree Business Center land given to Caterpillar by the sales tax board. The city had already supplied the streets and utilities to the property.

"Caterpillar is here largely because we were a prepared community when they had a project," said Dale Fowler with the Victoria Economic Development Corp.

Lewis Neitsch, who heads up the sales tax board, declined to discuss details of the land purchase for a second business park because it isn't complete. But he thinks it's a wise investment, he said.

"Some of the downstream suppliers for Caterpillar have expressed interest in maybe moving some of their facilities to Victoria or surrounding areas," he said. "We're just trying to get ahead of the game."

The 100 or so acres is in the vicinity of the first business, Neitsch said. The land will be owned by the sales tax corporation.

"We think this 100 or 110 acres is particularly suited because it takes advantage of most of the infrastructure that was put in for the Lone Tree Business Center," Fowler said.

The search for additional property began about a month before Caterpillar made its announcement, Neitsch said.